Personal Loans   New

BML Disaster Relief Loan

BML has taken an extra step forward to provide assistance to the victims of natural disasters. BML Disaster Relief loan is a concessional loan designed to provide financial assistance to cover the structural damages of their personal dwellings.

This loan aid is a joint initiative with the National Disaster Management Center (NDMC).

Disaster Relief Loan 2

Key Features

  • Lower interest rate: 10 % p.a (base rate)
  • Equity Contribution: 40 % ( provided by NDMC)
  • Long Term Repayment Period: up to 15 years
  • Maximum Loan Amount: MVR 510,000
  • Security Cover: 120 % of the property to be rebuilt

Eligibility Criteria

  • Maldivians aged between 18 to 60 years
  • Borrower should be land owner
  • Residents living in the house at the time of natural disaster strike
  • Official document from the NDMC stating the equity portion provided